Indian DRI, billet, rebar update - 6 Feb

• Offers rise and moderate trading volumes seen
  
  
• Prices may remain range-bound in near term
  
  

India's induction furnace (IF) steel prices increased d-o-d on 6 February 2025. Across markets, mills raised their offers by INR 100-700/tonne (t) compared to the previous trading session.

Sponge iron prices rose by INR 100-500/t d-o-d and the major rise in Jharsuguda market.

Billet tags increased by INR 150-700/t d-o-d with the steepest surged in Hyderabad market by INR 700/t.

Rebar (Fe 500) offers climbed up by INR 100-500/t d-o-d, with the sharpest rise in the Hyderabad cluster.

Today, the market witnessed some positive price movements, majorly in the finished steel segment, though the magnitude varied location-wise. However, trading activity was relatively moderate. As per participants, prices will remain range-bound in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)